The initial 100k they were asking for has been reached from previous investors and will be opening to the general public tomorrow (I believe!).
Id be interested to get people’s thoughts on this.
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I invested in the last round. Great opportunity for them as a business. The last round was a very popular raise. I see that the valuation has doubled since the last round which is great (whoop).
I chose not to invest in this current round solely because there is another company raising this month which will receive the full dollop of my cash.
Which company?
I’m guessing it’s some no-hoper that will never amount to much 
Maybe Freetrade?
I wonder why they use mine shafts rather then simply building a tower? Absolute lack of subject knowledge on my part, but I would assume it would be cheaper to build a concrete tower then adapt a mine, and significantly less maintenance and risk then a mine that could be subject to floods, collapse etc.
I’d love to know the details, as I bet I am absolutely wrong
So I’m a seed investor from the last round too - just a small amonut, but tempted to top it up a little bit, which is why I’m curious as to other people’s thoughts. As @TomShepherd says, it’s good to see the progress they’ve made over the last six months and great that the price has doubled - although I still have doubts about potential exit points.
I’m not an expert either. Interestingly one of their competitors (I forget their name), who has had investment from Softbank is also looking to generate electricity from dropping weights. However, I think Gravitricity are focusing on solutions underground for a few reasons:
*Mine shafts can be several thousand feet deep. The deepest in the UK is about 3 times the size of the shard. Those kind of depths are why they’re able to generate the amount of power that they can.
- Building towers that size at scale isn’t feasible in terms of cost or scale, whereas mines are there now and ready to go (ableit with some conversion work)
- Abandoned mine owners are looking for alternative solutions for their mines, which has helped potential business development.
- They’re also looking at bringing their solution to urban towns and cities. In major cities (such as London), building underground is much more acceptable and convenient, rather than building new towers across the skyline.
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I am very skeptical of any of these ‘wonder’ engineering ideas. I’ve put a question on the discussion, so will see what they reply and if the pitch deck gives any details: Join and Start Investing Today - Crowdcube
Looks like there is at least one other company already doing this, who appears to be further developed: Tower of power: gravity-based storage evolves beyond pumped hydro - Power Technology
I would be dubious as to what their proprietary technology is, it seems like a fairly simple concept that has been existing for a while.
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This response says they expect to be pre-revenue until exit:
What will they actually be selling? They’ll be selling a technology, not a business.
Pre-revenue until exit? Seems like they watched too much Silicon Valley. Why would anyone invest in that? 
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Surely you could adapt this idea to a much smaller scale to be bolted to sides of existing tall buildings. A robust wind turbine on the top might work. The thoughts of another non expert of course
Some interesting reading about storing energy with weight, someone mentioned Gravitricity. Unfortunately the last entry was 1 year 8 months ago.
Previously posted in the Megathread:
How does this technology works? How does a device such as this stores energy? I don’t get it
Edit: jump to 6.39
I think I get it now
Have they built one yet? How hard can it be to drill a shaft and drop a weight down. Seems a great plan but I want to see it in action.
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@AdamL They have built an experimental tower at Leith docks.
The company is planning another round of Crowdfunding in May.
On the BBC yesterday showing they were generated their first it of electricity 
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‘Gravity battery’ generates power for first time in Edinburgh 'Gravity battery' generates power for first time in Edinburgh - BBC News
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The current crowdfunding has reached 774% (now closed)!
Gravitricity have already said that they plan to do further crowdfunding.
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A Pre Emption round is currently being run for existing shareholders.
A term sheet has been signed with a potential investor for £3.20 per share
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Fingers crossed I’ve got 17,000 shares 